Standard Pacific rises on Cramer shout-out

JohnSpence

BOSTON (MarketWatch) -- Shares of Standard Pacific Corp.
SPF, +10.53%
were up 7% in premarket action Wednesday after Jim Cramer on his CNBC show "Mad Money" recommended the builder's stock to play a real estate rebound in California. He said Standard Pacific and other home builders Lennar Corp.
LEN, -1.84%
and KB Home
KBH, -0.29%
have at least 25% exposure to California. Standard Pacific is the most speculative of the group but the company's business and margins are turning around while Wall Street remains bearish on the stock, which means the shares could move higher as sentiment improves, Cramer said.

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